Welcome to East Los Angeles, a warm and vibrant community rich with cultural history and deep roots. The subject property is a well known local gem situated along one of the most well known blocks east of the 710 Freeway. It sits directly across from the famous La Azteca Tortilleria and adjacent to the historic El Gallo Plaza and the landmark Our Lady of Soledad Catholic Church. Also nearby are Cities Nightclub and El Gallo Restaurant and Bakery. The offering includes two structures: The front structure features 2 ground floor retail storefronts and a large 2nd floor apartment with patio. In the rear is a separate quadruplex with all 1Br+1Ba apts. Given that this is unincorporated Los Angeles, the 5 units are not subject to City of LA Rent Control, only County of LA. All in all, this is an incredible opportunity to purchase an iconic piece of East LA history. This property is priced to sell! Listed at 12.8 GRM on current rents, a 5.5% CAP rate on realistic expenses, and plenty of room to grow on rents, this is an excellent opportunity for an investor who wants to own a cash flowing property in an irreplaceable area.
|
DAYS ON MARKET
|
27
|
LAST UPDATED
|
4/22/2024
|
|
YEAR BUILT
|
1923
|
COMMUNITY
|
East Los Angeles
|
|
COUNTY
|
Los Angeles
|
STATUS
|
Active
|
|
PROPERTY TYPE(S)
|
Residential Income
|
|
|
| APPLIANCES |
Disposal |
| AREA |
East Los Angeles |
| BUYER'S BROKERAGE COMPENSATION |
|
| CONSTRUCTION |
Brick, Stucco |
| GARAGE |
None |
| LOT |
5538 sq ft |
| PARKING |
None |
| POOL DESCRIPTION |
None |
| SEWER |
Sewer Tap Paid |
| STORIES |
2 |
| VIEW DESCRIPTION |
None |
| ZONING |
LCC3* |
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Listed with Equity Union
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 5/19/24 11:33 AM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2024.
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